Northeast Bank (NASDAQ:NBN) Releases Quarterly Earnings Results, Beats Expectations By $0.18 EPS

Northeast Bank (NASDAQ:NBN) posted its quarterly earnings results on Thursday. The financial services provider reported $2.74 earnings per share for the quarter, beating analysts’ consensus estimates of $2.56 by $0.18, Zacks reports.

Northeast Bank Stock Performance

Northeast Bank stock traded up $3.22 during trading on Friday, hitting $109.56. The company’s stock had a trading volume of 59,786 shares, compared to its average volume of 41,878. The stock’s fifty day moving average is $97.61 and its 200 day moving average is $85.43. Northeast Bank has a 1-year low of $49.07 and a 1-year high of $110.35. The stock has a market capitalization of $899.49 million, a price-to-earnings ratio of 12.75 and a beta of 1.08.

Northeast Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. The ex-dividend date is Tuesday, February 18th. Northeast Bank’s dividend payout ratio (DPR) is 0.47%.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods initiated coverage on shares of Northeast Bank in a research note on Thursday, November 21st. They set a “market perform” rating and a $102.00 price target on the stock.

Northeast Bank Company Profile

Northeast Bank provides banking services to individual and corporate customers in Maine. The company's deposit products include demand deposit, NOW, money market, savings, certificate of deposit, and individual retirement accounts, as well as checking accounts. Its loan portfolio comprises residential mortgage loans; multi-family and other commercial real estate loans; commercial and industrial loans, such as term loans, lines of credit and equipment, and receivables financing; consumer loans comprising mobile home and overdraft, and deposit-secured loans; and small business administration loans.